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Tuesday, October 16, 2007

NYLIM Names Finance Chief

Reported by Armie Margaret Lee

New York Life Investment Management has hired David Bedard as senior managing director and chief financial officer. Bedard's start date at NYLIM is November 1, according to company spokesperson John Puccio.

Bedard, 43, takes over as head of finance from Steve Mandela, who is moving to a newly created role of managing Northern Trust's institutional lines of business, Puccio said.

That post, Puccio said, was created to "better synergize our institutional boutiques and improve operating leverage across the NYLIM enterprise."

Bedard joins NYLIM from The Hartford, where was senior vice president and chief financial officer of the U.S. wealth management division. He will report to NYLIM president and CEO Brian Murdock.

Before he joining THe Hartford in 2000 as CFO of the group benefits division, he served as senior vice president in corporate financial services at MassMutual. Earlier, he spent 11 years at Coopers & Lybrand LLP.  

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